The issues paper from the Productivity Commission on alternative default models for superannuation is no guide to how the long-parried conquest by banks of the contested sector might proceed.Rather, the Commission skewers the underpinnings of a tired and often ideological fuss over a system that has favoured the not-for-profit industry funds."The Inquiry has managed to unite the superannuation industry against the Inquiry's potential contemplation of more-than-incremental reform," the Commission wrote in the paper."A healthy dose of scepticism would suggest that there must be rents to be recovered for the benefit of members for such unanimity to be valid."The Commission observed that "it is unwise, as many have to date, to portray this Inquiry as just another 'industry fund versus retail fund' debate. This Inquiry is much more than that - it is a wake-up call to the entire industry, which some claim has become complacent with a steady flow of mandated contributions from disengaged members, and as an industry has failed to improve its scale and efficiency and deliver better outcomes for members (despite the MySuper reforms)."Most participants from the superannuation industry argued that some form of default arrangements is needed for the foreseeable future (if not into perpetuity). "Many participants voiced a familiar objection to the view that competition could promote member interests, instead placing faith in the goodwill and legal obligations of trustees. This Inquiry will test that proposition more fully."If any submissions to the Productivity Commission encouraged the idea that for profit (meaning, bank-run) funds - with a barely disputed record of inferior returns - were a better option than the status quo, the Commission left endorsements of that out of their analysis.Instead, it centred its catalogue of reform models on promoting competition in the market (by stimulating fund members to take more interest and more active decisions) and competition for the market - the real challenge to a default fund mechanism dating from the 1980s, one with an undeniable heritage of trade union activism and their creations, industry funds.If banks, after years of being obstructed by industry funds from strategic goals in wealth management, are to do better in superannuation they need to reform their product, as their rivals have done."The alternative models will be evaluated on the quality of their default superannuation product only," the Commission said, "and not on insurance, which is currently bundled with default superannuation on an opt-out basis. In this environment, insurance is best dealt with as a regulatory add-on."